Jordan: "Mercedes is taken over by Ineos for £700 million"

Prior to the current season, Mercedes announced a new sponsor on the car. The chemical company Ineos paid £100 million to get a prominent spot on the black arrows. 

Eddie Jordan claims that Ineos Mercedes want to buy 70 percent of the shares in the team for £700 million. This will make the company a Formula 1 superpower after it has already taken over the Sky cycling team and the French soccer club OGC Nice. "The ownership will be taken over by Sir Jim Ratcliffe and Ineos," said the former F1 team boss to The Daily Mail.

"The Ineos name is already on the side of the car and they have a technology partnership, so this is a great way out for Mercedes. The team will be called Ineos, but it will continue to be run by the Brackley factory and Mercedes will continue to hold thirty percent of the shares. Toto Wolff won't be team manager either," Jordan continued.

Dignified departure from F1

According to the Irishman, the sale will be a way to get out of Formula 1 with dignity. "How can they improve themselves? They can't. Toto's reputation as one of the greatest team bosses in the history of the sport has already been secured".

Previously, Mercedes has indicated that it has no intention to sell a large share of the team and thus lose control. "It is our intention to continue participating in Formula 1 as a Mercedes-Benz team in the coming years, together with our managing partner, Toto Wolff."